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Revenue Recognition | 12 Months Ended
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Dec. 31, 2019
Revenue from Contract with Customer [Abstract] |
Revenue Recognition | NOTE 4 - REVENUE RECOGNITION The following table presents the Company’s revenues disaggregated by revenue source for the years ended December 31, 2017, 2018 and 2019.
|  | Year Ended December 31, |
|  | 2017 |  |  | 2018 |  |  | 2019 |
Products |  | $ | 23,552 |  |  | $ | 36,897 |  |  | $ | 45,416 |
Services |  |  | 17,406 |  |  |  | 16,167 |  |  |  | 36,499 |
|  | $ | 40,958 |  |  | $ | 53,064 |  |  | $ | 81,915 |
The balances of contract assets, and contract liabilities from contracts with customers are as follows as of December 31, 2018 and 2019 are as follows:
|  | December 31, |
|  | 2018 |  |  | 2019 |
Assets: |  |  |  |  |  |  |  |
Deferred sales commissions to employees |  | $ | 585 |  |  | $ | 2,196 |
Deferred costs |  | $ | 9,069 |  |  | $ | 8,530 |
Liabilities: |  |  |  |  |  |  |  |
Contract liabilities (1) |  | $ | - |  |  | $ | 1,098 |
Deferred revenue -other (1) |  |  | 305 |  |  |  | 227 |
Deferred maintenance and SaaS revenue (1) |  |  | 4,607 |  |  |  | 5,072 |
Deferred logistics visibility solutions product revenue (1) |  |  | 12,176 |  |  |  | 10,932 |
|  |  | 17,088 |  |  |  | 17,329 |
Less: Deferred revenue and contract liabilities - Current portion |  |  | 7,902 |  |  |  | (8,536 | )
Deferred revenue and contract liabilities - less current portion |  | $ | 9,186 |  |  | $ | 8,793 |
(1) | The Company record deferred revenues when cash payments are received or due in advance of the Company’s performance. For the years ended December 31, 2018 and 2019, the Company recognized revenue of $11,813 and $12,082, respectively, that was included in the deferred revenue balance at the beginning of each reporting period. The Company expects to recognize as revenue before year 2024, when it transfers those goods and services and, therefore, satisfies its performance obligation to the customers.
Development projects with Avis Budget Car Rental, LLC On March 18, 2017 (the “SOW#4 Effective Date”), the Company entered into a statement of work (the “SOW#4”) with Avis Budget Car Rental, LLC (“ABCR”), a subsidiary of Avis Budget Group, Inc. (“Avis”), for 50,000 units of the Company’s cellular-enabled rental fleet car management system (the “System”) and maintenance and support of the System (“Maintenance Services”) for sixty months from installation of the equipment for the consideration of approximately $21,270. ABCR has an option to purchase additional units and has the option to renew the Maintenance Services period for an additional twelve months upon its expiry, and then after such twelve-month period, ABCR can purchase additional Maintenance Services on a month-to-month basis (during which ABCR can terminate the Maintenance Services) for up to forty-eight additional months. The Company recognized SOW#4 development project revenue of $2,470 and $-0- during the years ended December 31, 2017 and 2018, respectively. The Company recognized SOW#4 product revenue of $-0- and $8,491 during the years ended December 31, 2017 and 2018, respectively. On December 3, 2018 (the “SOW#5 Effective Date”), the Company entered into a statement of work (the “SOW#5”) with ABCR for 75,000 units of the System and Maintenance Services for sixty months from installation of the equipment and the non-recurring engineering (“NRE”) services for development of additional features and functionality for the consideration of approximately $33,000. ABCR has an option to purchase additional units and has the option to renew the Maintenance Services period for an additional twelve months upon its expiry, and then after such twelve-month period, ABCR can purchase additional Maintenance Services on a month-to-month basis (during which ABCR can terminate the Maintenance Services) for up to forty-eight additional months. For the years ended December 31, 2018 and 2019, the Company recognized SOW#5 NRE revenue of $-0- and $3,823 respectively. The SOW#5 may be terminated by ABCR for cause (which is generally I.D. Systems’ material breach of its obligations under the SOW#5), for convenience (subject to a termination fee), upon a material adverse change to I.D. Systems, or for intellectual property infringement. I.D. Systems does not have the right to unilaterally terminate the SOW#5. In the event that ABCR terminates the SOW#4, then ABCR would be liable to I.D. Systems for the net present value of all future remaining charges under the SOW#5 at a negotiated discount rate per annum, with the payment due on the effective date of termination. The SOW#5 provides for a period of exclusivity commencing on the SOW#5 Effective Date and ending twelve months after the SOW#5 Effective Date, which may be extended in six-month increments by Avis under certain conditions. The period of exclusivity expired and was not renewed.

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -URI http://asc.fasb.org/topic&trid=49130388 + Details
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